At the time of redemption of the bond the interest gained from the Australian Friendly Society is paid to Hills Family Funerals. This amount covers the increase in the funeral cost.
No, your Bendigo Funeral Bond through Hills Family Funerals will not incur capital gains tax or other tax liabilities.
By discussing the details of your preferences with Hills Family Funerals, you can ensure that sufficient funds are set aside for your requirements. The total cost of a funeral service will depend on the individual aspects that are chosen as a part of the service, whether burial or cremation is preferred, and so on. Hills
Hills Family Funerals prepaid funeral contracts are provided through the Australian Friendly Society, which is associated with Bendigo Bank. The Bendigo Funeral Bond contract allows you to provide for the cost of your funeral.
Various government departments and organisations offer bereavement payments for Australian residents. The main source is Centrelink and the following are some of the areas you can expect assistance with: Married Pensioner: Surviving partners receive a further 14 weeks of their spouses pension, usually paid in a lump sum. Single Pensioner: The estate receives one full
Superannuation benefits, including any insurance component, are generally released upon death regardless of the age of the member. In most cases you will need a copy of the Death Certificate, a copy of the Will and Grant of Probate or Letters of Administration. For superannuation funds held elsewhere you will need to contact the Trustee
You will need to continue paying your loan and interest will still accrue on the account until the loan is finalised. If you are unable to meet your regular loan repayments, you will need to contact your bank and discuss the options available.
If the Deceased person had a credit card, you’ll need to cancel any existing direct debits attached to the card. If the deceased was the primary cardholder, the card needs to be cancelled, which will cancel any secondary cardholders cards automatically. Secondary cardholders may then apply for their own card, subject to the banks normal
Banks are unable to remove the name of a customer from a joint account. Where the account can be operated jointly by either party independently, the surviving party has access to the funds. These funds can be transferred into a new account and the joint account closed. Where two or more signatures are required to
An Executor, Executrix, Trustee, Administrator, Legal Representative or Next of Kin can apply for Probate. This person will need to contact the Supreme Court in the state in which the Deceased’s assets are held to initiate the process. You should seek advice from Centrelink, the Public Trustee or your Solicitor.